Review Agenda Item
Meeting Date: 6/22/2022 - 6:00 PM
Category: Business/Action Items
Type: Action
Subject: 18.1 Public Hearing for Senate Bill 858: Excess of Minimum Reserve Requirements
LCAP (Local Control Accountability Plan) Goal:
Goal 1: All students will receive a high quality education in a safe and welcoming environment with equitable and high expectations, access to technology, and instruction in the California State Standards that prepare them for college and/or career.
Policy:
Enclosure 2022-23 Statement of Reasons for Excess Reserves
File Attachment:
2022-23 Statement Balances in Excess of Minimum Reserves Requirements.pdf
Summary: Senate Bill (SB) 858 (Chapter 32/2014) requires that school districts hold a public hearing to provide information on the amount in the unrestricted General Fund expenditures and other financing uses.
The district is committed to maintain a prudent level of financial resources to protect against the need to reduce service levels because of temporary revenue shortfalls of unpredictable expenditures and to maintain a high bond rating. The statement for assigned and unassigned ending fund balances above the state required minimum level is attached.
Funding: n/a
Fiscal Impact
Recommendation: Move to Approve Public Hearing for Senate Bill (SB) 858, Chapter 32/2014, Balances in Excess of Minimum Reserve Requirements.
Approvals:
Recommended By:
Signed By:
Mika Arbelbide - Director of Fiscal Services
Signed By:
Dr. Lisa Gonzales - Chief Business Officer
Signed By:
Dr. Adam Clark - Superintendent
Vote Results:

Original Motion
Member Linda Mayo Moved, Member Erin McFerrin seconded to approve the Original motion 'The Public Hearing was opened at 8:28pm. No public comments were made and the hearing was closed at 8:28pm. Move to Approve Public Hearing for Senate Bill (SB) 858, Chapter 32/2014, Balances in Excess of Minimum Reserve Requirements.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0.
The motion CARRIED 4 - 0
   
Linda Mayo     Yes
Cherise Khaund     Yes
Keisha Nzewi     Yes
Erin McFerrin     Yes